Centrify Achieves Record Revenue and Becomes First Identity-as-a-Service Vendor to Surpass Milestone of 2,000 Cloud Customers
Strong Customer Acquisition Rate Drives Growth and Underscores Value of Complete Solution for Identity and Access Management across Cloud, Mobile and On-premises Environments
July 15, 2014
SANTA CLARA, Calif. — Centrify Corporation, the leader in unified identity management across data center, cloud and mobile, today announced it has posted another fiscal year of record sales, ending June 30, 2014. Helping to drive this achievement is the fact that Centrify has become the first company in the Identity-as-a-Service (“IDaaS”) market to serve and support more than 2,000 customers in the cloud. The strong customer acquisition rates seen in the fiscal year underscore the value of Centrify’s comprehensive approach to identity management across cloud, on-premises and mobile environments.
Centrify is uniquely positioned to capitalize on the explosive demand for cloud-based security as companies of all sizes continue to embrace the IDaaS (also known as “Cloud Identity” or “Identity and Access Management as a Service”) model. In fact, Gartner’s October 2013 “Market Trends: Cloud-Based Security Services Market, Worldwide” report noted that the rapid growth of mobile and cloud-based security is propelling the cloud-based identity market to more than $1 billion by 2017, while IDC’s worldwide IAM forecast, issued in June 2013, predicted the overall market will reach $6 billion annually by 2017.
“Centrify’s continued strong performance can be attributed to our ability to address identity needs for all environments, including cloud, mobile and on-premises,” said Tom Kemp, CEO of Centrify. “We are thrilled that our direct sales team, as well as our channel and OEM partners, has signed up more than 2,000 customers to date to our cloud-based identity platform. Coupled with more than 5,000 customers of our identity management software, we have one of the largest install bases in the identity and access management market, no matter the deployment model.”
By unifying customers’ identity management requirements, Centrify helps organizations see greater end user productivity and security by not only delivering single sign-on (SSO) but also delivering multifactor authentication. In addition, Centrify’s solution allows organizations to improve IT efficiency, better address regulatory compliance, better secure their hybrid cloud and on-premises IT environment, as well as lower total cost of ownership for their identity infrastructure.
“After comprehensive research into the various identity and access management providers, we selected Centrify,” said Michael Goay, University of Southern California executive director of Information Technology. “Hands down, they offered the best flexibility and manageability for extending unified access management from Windows Active Directory across our heterogeneous computing environment. We found Centrify’s licensing model and customer support to be unmatched in the industry. Our students are now benefitting from the ability to log onto USC computer resources with their personal devices using a single primary log-in, without the need for cumbersome password management.”
In addition to posting strong sales, servicing more than 2,000 customers in the cloud and 5,000 customers worldwide, Centrify secured a number of achievements in FY 2014, including:
- Raised $42 million in funding with participation by strategic investors Samsung Ventures, Fortinet Inc. and Docomo Capital. The investment from global leaders in mobile technology and network security validates Centrify’s holistic and unified approach to identity management and continued disruption of the Identity and Access Management (IAM) market.
- Nearly doubled its channel revenue with contributions from new partners including SoftwareONE, Corus360, FishNet Security and Mainline Information Systems, while also rolling out an enhanced Centrify Channel Partner Network in January 2014.
- Secured a number of awards, including the Gold Winner in Network Product Guide’s 9th Annual 2014 Hot Companies and Best Products Awards Program; the 2014 Mobility Tech Zone Product of the Year Award; Best Security Company of the Year at SC Awards Europe; Software Vendor of the Year at the European IT & Software Excellence Awards; five category nods from the Windows IT Pro 2013 Community Choice Awards; Silicon Valley Business Journal’s Fastest Growing Private Companies for 2013; and the 2013 Cloud Computing Excellence Award for effectively using the cloud to secure mobile devices and access to SaaS applications.
- Gartner recently positioned Centrify as a Visionary in the “Magic Quadrant for Identity and Access Management as a Service,” validating Centrify’s position as a top vendor in the IDaaS market.
- Enhanced its executive team with the addition of Bill Mann as SVP of Products and Mark Weiner as Chief Marketing Officer.
- Moved Headquarters Office to accommodate growth.
Centrify is continuing to grow its customer installed base while maintaining a 97 percent customer retention rate.
Centrify provides unified identity management across data center, cloud and mobile environments that deliver a single sign-on (SSO) for users and a simplified identity infrastructure for IT. Centrify’s unified identity management software and cloud-based Identity-as-a-Service (IDaaS) solutions leverage an organization’s existing identity infrastructure to enable single sign-on, multi-factor authentication, privileged identity management, auditing for compliance and mobile device management. Centrify customers can typically reduce their total cost of identity management and compliance by more than 50 percent, while improving business agility and overall security. Centrify is used by more than 5,000 customers worldwide, including nearly half of the Fortune 50 and more than 60 Federal agencies.
For more information, please visit http://www.centrify.com/
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